Commodity forecast 9 April 2014

MCX GOLD June expiry future last closed at 28,458 with gain. In intraday mcx gold future’s high was at 28,586 while low was at 28,397. Total 200-rupee intraday range and closed with gain. Gold may continue to bounce back on weak rupee.

MCX SILVER May expiry future last closed at 43,190 with gain. In intraday mcx silver future’s high was at 43,430 while low was at 43,190. Total almost 250-rupee intraday range and closed with gain. 43k will be strong support on closing basis.

MCX ALUMINIUM April expiry future last closed at 108.55 with loss. In intraday mcx aluminium, future hit high at 108.75 while low was at 107.4. Total 1.5-rupee intraday range and closed with loss. Above 108, keep long view.

MCX COPPER April expiry future last closed at 40.65 with loss. In intraday mcx, copper future made high at 407 while low was at 402. Total 4-rupee intraday range and closed with loss. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 124.65 with gain. In intraday mcx lead future’s high was at 124.9 while low was at 123.55. Total 1 -rupee intraday range and closed gain. Below 126, keep sell on rise view.

MCX NICKEL April expiry future last closed at 989 with loss. In intraday mcx nickel future’s high was at 994 while low was at 982. Total 12-rupee intraday range and closed with loss. Now 995 is fresh top for nickel future and resistance.

MCX ZINC April expiry future last closed at 121.95 with gain. In intraday mcx zinc, future hit high at 122 while low was at 120.9. Total 1-rupee intraday range and closed with gain. Zinc future may show short covering rally up to 122-123.

MCX CRUDEOIL April expiry future last closed at 6161 with gain. In intraday mcx crude oil, future hit high at 6172 while low was at 6060. Total almost 120 rupee intraday and closed with gain. Watch 6200 as another breakout level.

MCX NATURALGAS April expiry future last closed at 273 with loss. In intraday mcx natural gas, future made high at 275 while low was at 269. Total 6-rupee intraday range and closed with loss. Above 265, keep buy on dips view.

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